ARTICLES ABOUT AMAN RESORTS BY DATE - PAGE 2

Nikunj Dalmia , ET Now: I have got DLF on my radar and the reason why DLF seems to be propping up is not because the stock has regained technical strength and it is up 14% in the month of December. The good old buzz that DLF would be selling some of its non-core assets is back and my understanding is that the Aman Resorts deal will be forged before January 15. This time around a clutch of PE investors are really eyeing a complete buy out of Aman Resorts. My sense is the valuations would be much more than what DLF earlier had projected to the stock exchanges.

MUMBAI: ET Now spoke to dealers on institutional and high net worth investors' activity in the dealing room. The following stocks are on their radar on market buzz. DLF: There is buzz in the market Carlyle and Oaktree Capital are in race to buy-out Aman Resorts. The stock was at Rs 147.45, up 2.15 per cent, on the BSE. It touched a high of Rs 148.65 and a low of Rs 146.50 in trade today. Hexaware: Domestic MFs are buying in trade, say dealers. They see 3-4 per cent upside in the short term.

MUMBAI: ET Now spoke to dealers on institutional and high net worth investors' activity in the dealing room. The following stocks are on their radar on market buzz. Dr Reddy's Laboratories: Dealers expect the stock to perform better after JP Morgan raised target price to Rs 2,675. The brokerage expects niche launches to drive up the growth. The stock was at Rs 2,402, up 0.73 per cent, on the BSE. It touched a high of Rs 2,411.60 and a low of Rs 2,385 in trade today.

NEW DELHI: DLF, the largest real estate developer in India, said it will cut debt by about a quarter to Rs 15,500 crore over the next nine months, mainly on the back of receipts from the sale of its luxury hotel chain Aman Resorts and some land divestitures. "If both transactions happen, our net debt will come down to below Rs 15,500 crore," Tyagi said. Delhi-based DLF had in December last year announced the sale of Aman Resorts to its original founder, Indonesian hotelier Adrian Zecha , for Rs 1,650 crore.

NEW DELHI: India's largest real estate firm DLF has ended its "exclusivity contract" to sell luxury hotel chain Aman Resorts to the original owner and founder Adrian Zecha and has begun talks with a clutch of private equity funds and international hotel operators, which includes Blackstone and Carlyle. DLF had announced the sale of its luxury hotel chain Aman Resorts for Rs 1,650 crore to the Indonesian hotelier Zecha in December 2012 as part of the company's non-core asset sale strategy to reduce its debt that had crossed the Rs 23,000-crore mark.

MUMBAI: DLF's cup of woes continues to overflow. The real estate giant is desperate to cut debt from its balance sheet, but the state of the market is so weak that previous agreements are coming apart. The DLF-Aman Resort deal is facing funding issues as Adrian Zecha, previous founder of Aman Resorts Group, is unable to raise funds for the deal, say sources. The deal has missed two deadlines so far. The first deadline had expired in the month of March while the second one expired in June.

MUMBAI: Real estate major DLF is likely to report a 21 per cent decline in net profit to Rs 172 crore for the quarter ended March 2013 compared to a net profit of Rs 212 crore in the corresponding quarter last fiscal, says an ET Now poll. Net sales are seen at Rs 2,040 crore, down 22 per cent, compared to the net sales of Rs 2,617 crore in the year-ago period. EBITDA is seen at Rs 795 crore, down 0.3 per cent, compared to Rs 797 crore and margins are seen up at 39 per cent from vs 30.5 per cent in the same quarter the previous fiscal.

NEW DELHI: As it continues to focus on reducing debt, DLF Ltd, India's biggest real estate company, is looking to raise Rs1,500 crore by hiving off most of its noncore assets. The building firm has just signed three definite agreements to divest two land parcels for about Rs 700 crore and 60% ownership in Star Alubuild, a facade engineering and contracting company, for about Rs 70 crore. "The company aims to complete the sale of most noncore assets this quarter, including its exit from insurance business, and will mobilise a slice over Rs 3,700 crore through this route," a top group executive told ET, requesting not to be named as the company is in the middle of a capital raising exercise.

MUMBAI: Shares of realty major DLF today gained over 5 per cent after the company said it expects to lower net debt to Rs 19,000 crore by the end of this fiscal. This was the first gain in the stock after four sessions of decline and DLF's market capitalisation swelled by a whopping Rs 2,148 crore, to Rs 44,411 crore, from Rs 42,263 crore on Friday. DLF opened on a bullish note on the BSE and then surged more than 5.62 per cent to an intra-day high of Rs 262.80. It finally settled at Rs 261.45, up 5.08 per cent.

NEW DELHI: Analysts at top brokerage firm have raised their target prices on DLF as the company's plan to pare debt in the coming quarters is likely to support the stock price in the near term. In the recent analyst meet, DLF said it intends to bring down its net debt from current Rs 21,350 crore to Rs 10000-11000 crore over next 3 years. At the analyst meet, the management hinted at 3 dilution in the next 2 years - which will help them to rake in cash flows of 5000 crore. "DLF is planning that Rs 2550 crore of debt reduction will come from divestment of Aman Resorts and wind power business.